the administration and the democrats in congress, nancy pelosi and harry reid and the president himself have all said in the last few days we don't have a spending problem. this will hurt in places. at the end of the day it's unclear how much people will blame the president or the republicans for what. they think we have a spending problem. >> great thing about everybody wants, thinks ve a revenue problem. spending problem. this is great until it's their thing that got cut. my job or my social security or medicare or whatever the cut is. everybody thinking we have a spending problem until it happens. the cuts come and price to play and then we blame somebody. there is blame on both sides but that is the politics. >> bret: does it happen? >> i think there will be -- we have sequestration. >> does it happen? >> absolutely. we needed presidential leadership for 18 months to avoid this. the president is nowhere, never presented a plan. last week they asked in congress testimony what is the number attached to the president's plan and he said we have never seen a president plan. avoid it. >>